Taiwan records second straight GDP contraction, biggest since 2009
Taiwan's Directorate-General of Budget, Accounting and Statistics cites weak global demand and inventory adjustments as reasons for its shrinking economy. – Facebook pic, April 28, 2023.
TAIWAN’s economy shrank for a second straight quarter at the start of 2023, the government said today, its biggest quarterly contraction since the 2009 global financial crisis. Gross domestic product in the first quarter plummeted by 3.02% year-on-year, according to preliminary figures released by the Directorate-General of Budget, Accounting and Statistics.
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